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<br />CASE # / <br /> <br />REPORT ON eONTlNGENT OFFER FOR PROPERTY FAelLITATING THE <br />NEON STREET CONNEeTlON BETWEEN 157TH LANE & 157TH AVENUE <br />- By; Steven Jankowski, City Engineer <br /> <br />Background: <br /> <br />During .the course of the approval process for the Rum River Meadows townhome development, <br />the City CounCil directed staffto secure a first right of refusal for a property north of this <br />subdivision to allow for a future street connection to 157th Lane. The options for reducing the <br />length of the cuI de sac for the street serving this development were severely limited. since the <br />areas south and west of this development are wetlands. At the January 2007 Public Works <br />Committee meeting it had been brought to the attention of the Committee" that the parcel <br />identified as being best suited for this connection was being advertised for sale. Staffwas <br />directed by the eity Council at the February 13, 2007 meeting to make a contingent offer for the <br />purchase of this property. The purpose of this case is to report on the progress made pursing the <br />acquisition of this property and addressing the status of the contingencies which included; (a) a <br />traffic study favorable to the making of the connection; (b) an appraisal validating the listed . <br />purchase price of the property. Council also directed that the immediate neighborhood be <br />notified of the City's intent to pursue this street connection. The following items are attached for <br />infoimation: <br /> <br />1. Appraisal prepared by David C. Hughes <br />2. Traffic impaCt study report <br />3. Informational open house resident notification letter <br />4. Open house notification area <br />5. March 7, 2007 neighborhood meeting attendance she.et <br />6. Vicinity maps <br /> <br />Observations: <br /> <br />A contingent offer has been maae to and accepted by the prop~rty owner of 5860 157th'Lane in <br />the asking price of $282,900. An appraisal of this property has been received from David C. <br />Hughes. a certified residential appraiser which supports the value of the City's offer. <br /> <br />A traffic analysis evaluating the impact on this street cOlmection on the area has been prepared <br />by Bolton &. Menk CODSnlting Engineers Inc. dated March 7, 2007. This study presented the. <br />following conclusions: ' <br /> <br />1. The connection will increase the vohune of traffic using 157tll Lane west ofTH 47 by <br />approximately 90 vehicles per day (9%). <br />2. The traffic on Potassium Street will likely decrease by SO vehicles per day. <br />3. This connec,tion will allow local neighborhood traffic to access TH 47 without using <br />Alpine Drive, Nowthen Blvd., or 15Sth Avenue, traffic on these routes will decrease <br />slightly, <br /> <br />-169- <br />